A CPE audit will be conducted by the Institute on a sample of professional accountants who will be selected at random from the Institute’s records. During each CPE audit, the randomly selected professional accountants will be required to produce evidence of their compliance with the CPE requirements set out in section 130 of Part I of the By-Laws.

Professional accountants are required to maintain records of their compliance with the CPE requirements set out in section 410 above.

Professional accountants are required to tender the appropriate evidence of such compliance if called upon to do so pursuant to paragraph 410.6.

An application made pursuant to paragraph 410.9 should be in writing and supported by a certificate from a licensed physician or hospital in the case of subparagraph (a), or supported by any other relevant documents in respect of subparagraphs (b), wherever appropriate. Such application should be made no later than 30 days after the professional accountant is selected for the CPE audit.

In exercising its discretion pursuant to paragraph 410.9, the Council may require the professional accountant to submit a letter of undertaking stating that the professional accountant will fulfill the CPE requirements pursuant to section 410 above upon recovery from the illness or upon the lapse of the reason for which the Council has granted the exemption.

Members of the Institute who are mentors in the CARE programme for duration of one (1) year will be entitle to 4 CPE structured hours regardless of the number of the mentee that he has. To qualify as a mentor, one must have been mentoring a CARE participant (mentee) for a minimum of three (3) months. If he had been mentoring less than one (1) year, the CPE hours will be prorated accordingly.

With effect from 1 November 2009